Codex DNA, which makes an automated synthetic biology workstation and related solutions, raised $107 million by offering 6.7 million shares at $16, the high end of the range of $14 to $16.
Codex DNA states that its synthetic biology solution addresses the bottlenecks across the multi-step process of building DNA and mRNA. A key part of its solution is its BioXp system, an end-to-end automated workstation that fits on the benchtop and provides ease-of-use and hands-free automation. The company commercially launched its current synthetic biology solution in September 2019, which now includes the BioXp 3250 system, BioXp kits with associated cloud-based application scripts, and benchtop reagent kits. Since the introduction of its solution through May 1, 2021, Codex has launched seven BioXp kits, three benchtop reagent kits, and several other synthetic biology products, including 12 SARS-CoV-2 full-length genomes and RNA controls. Codex has placed approximately 160 BioXp systems globally.
Codex DNA plans to list on the Nasdaq under the symbol DNAY. Jefferies, Cowen, and KeyBanc Capital Markets acted as joint bookrunners on the deal.
